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A pottery factory purchases a continuous belt conveyor kiln for $65,000. A 7.3% APR loan with monthly payments is taken out to purchase the kiln.

A pottery factory purchases a continuous belt conveyor kiln for $65,000. A 7.3% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $678.87, over what term is this loan beingpaid?

12 years

13 years

11 years

10 years

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